U.S. Business Travel Spending Projected to Top $292B

A travel industry forecast finds U.S.-originated business travel grew nearly 3 percent year-over-year, with company spending for business travelers increasing 7.6 percent to $71.2 billion during the first quarter of 2014. This indicates rising management confidence in the economic recovery, which tends to accompany increased travel budgets and fewer travel restrictions. Overall, U.S.-generated business travel spending is expected to increase 6.8 percent to $292.3 billion in 2014.

The new report from the Global Business Travel Association (GBTA) highlights the important relationship of business travel to overall U.S. economic growth. “Business travel spending in the U.S. supports 7.1 million jobs,” said Michael W. McCormick, GBTA executive director and COO. “We continue to see a correlation: growth in business travel is intrinsically linked to jobs development and ultimately growth in the U.S. economy.”